Horizon diagnostics has signed a Master Services agreement with a US-based global pharma company to help in the development of companion diagnostics for novel, genetically-targeted cancer medicines, according to a company press release.

As per the agreement, for the first project, Horizon diagnostics has to produce genetically defined cell lines and related gDNA and FFPE standards to the tune of $1.2 million.

Dr Darrin M Disley, chief executive officer of Horizon Discovery Group plc, commented: "This is a highly significant deal for our reagent products business and demonstrates the potential of this business to contribute substantial growth to the Group in 2014 and beyond. We look forward to working closely with our new partners."